Retail bankruptcies hit highest number since 2011: S&P Global

Retail bankruptcies hit a six-year high in 2017, totaling 50 in 2017 as of Dec. 14, according to S&P Global Market Intelligence data. That's higher than 47 for all of 2016 and the highest since 59 total in 2011. Among the companies that filed for bankruptcy protection in 2017 were Toys R Us Inc., True Religion Apparel Inc., Payless Inc. and BCBG Max Azria Global Holdings LLC. Mall-based chain Charming Charlie Holdings Inc. was the most recent to file for bankruptcy on Dec. 11. Other mall-based bankruptcies include teen retailer Wet Seal LLC and The Gymboree Corp. The most vulnerable public U.S. companies in order from one to five, according to S&P Global, are: Sun Pacific Holding Corp., Sears Holdings Corp.
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Razer Inc.
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Vince Holding Corp.
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and The Bon-Ton Stores Inc.
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Sun Pacific is a global pizza restaurant franchisor that also designs and produces sporting gear. The company was formerly known as EXOlifestyle Inc. but changed its name in Oct. 2017. "The probability of default among these companies ranged from 44.38% and 5.36% with a corresponding implied credit score of 'cc' to 'b,'" S&P Global wrote. Victoria's Secret parent L Brands Inc.
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fell off the most vulnerable list in December. The SPDR S&P Retail ETF
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is up 2.8% for the year so far, but down 1.8% for the last 12 months. The S&P 500 index
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is up 20% for 2017 to date.

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